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HSC Economics Economic Policies and Management Notes

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This is a concise yet comprehensive overview of the 'Economic Policies and Management' section of HSC Economics. Key points are highlighted and an abundance of useful statistics are provided.

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16 Pages Complete Study Notes > 2 Years old
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5 Ex Credits


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HSC Economics Economic Policies and Management Notes
Topics this document covers:
Economy Macroeconomics Economics Monetary policy Unemployment Fiscal policy Inflation Macroeconomic policy Keynesian economics Economic policy Business cycle Deficit spending
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Economy Macroeconomics Economics Monetary policy Unemployment Fiscal policy Inflation Macroeconomic policy Keynesian economics Economic policy Business cycle Deficit spending
Sample Text:
Economic growth which is sustainable and leads to improvements in the quality of life. 2. Full employment of resources (mainly employment -> reach NAIRU). 3. Price stability by keeping inflation within its target of 2-3%. 4. External stability such that Australia is not vulnerable to external shocks. 5. Environmental sustainability to ensure that resources are preserved for future generations. 6. Distribution of income and wealth that is even. The internal balance includes full employment and price stability while the external balance includes the stability of the exchange rate, a steady CAD to GDP ratio and the ability to repay foreign debts. Potential Conflicts These objectives can sometimes conflict, because trying to attain one of them may lead to the worsening of another. For example, 1. Economic growth and demand-pull inflation (AD diagram). 2. Economic gro...
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